State-run pension fund Social Security System said collection from housing loans in the first six months of 2019 rose 28 percent to P849.04 million from P665.60 million year-on-year.
SSS president and chief executive Aurora Ignacio said the increase in collection was the result of aggressive and foreclosure efforts of the pension fund, along with the development of a new billing system for more convenient collection.
“We are pleased with the increase in collection from housing loans. With this additional fund, we can help more members who may be having difficulties in acquiring properties or improving their houses,” she said.
“Members may use the housing loan for low-cost housing or house repair and improvement. They may also use this loan to purchase a lot and construct a new house. Likewise, they can use the loan to purchase an existing residential unit or construct a new house on their owned lot,” she said.
